Saudi Oil Company Aramco becomes the most profitable company of the planet

April 3, 2019 | Investopaper

Saudi Oil Company has reported a net income of $111 billion last year becoming the most profitable company of the planet. The results are astounding considering that the organization has to pay a large amount of tax in Saudi Arabia. The report of Aramco’s net profit was published by Moody’s Investors Services.

The company which produces 10 percent of the world’s crude has outclassed big American companies like Apple and Exxon Mobil Corporation. Apple profit has declined in recent times after sales in China has declined massively. Apple reported a net profit of about $60 billion in 2018 while Exxon Mobil net profit was  $21 billion for the year.

The CEO of the company is Amin H. Nasser. The company is also the world’s largest company in terms of revenue.




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